Investing.com -- AT&T Inc (NYSE:T). is reportedly in exclusive negotiations to acquire the consumer fiber operations of Lumen Technologies Inc. This information comes from Bloomberg News, citing sources who chose to remain anonymous due to the confidential nature of the discussions.
The potential deal could value the unit at over $5.5 billion. However, the terms are not yet finalized and could change, or the discussions could ultimately fall apart. Both AT&T and Lumen have declined to comment on the matter.
Earlier this month, Lumen’s Chief Financial Officer, Chris Stansbury, spoke at a conference about the possibility of exiting and monetizing the company’s fiber-to-the-home business. He noted that this consumer asset would likely end up in a space where the market was consolidating, and at that point, Lumen would not be a consolidator.
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